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No settlement of any case under this article shall become effective unless:

  1. All parties to such case have been given an opportunity to object to such settlement before the court; and
  2. The court has approved such settlement.

History. Code 1981, § 21-2-527.1 , enacted by Ga. L. 1987, p. 1050, § 2; Ga. L. 1998, p. 295, § 1.